Ethereum Buy Opportunity

POLONIEX:ETHUSDT   Ethereum / Tether USD
The price is going to bounce from the uptrend line. RSI is in the oversold zone and it confirms the price reversal. MACD and DMI are still bearish , but if the price breaks the downtrend line and 800.00 resistance level , we'll get a good signal confirming the further upward movement. The uptrend line is the signal line. If the market can stay above this line, it will be a good support for buyers and we'll see reaching 1000.00 level very quickly.

Alternative variant: the price bounces from the downtrend line and breaks the uptrend line. If so, we should be ready to see the market falling to the support zone formed by 500.00 support level and the 2nd uptrend line. This zone will be good for buying too. Just we'll need to get strong signals confirming the price reversal.
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Well it looks like we are about to round off this bear market with BTC 6000 and ETH 450. Excellent entry levels in a few days for buying in for the long term.
Thanks for this idea. TA aside when I look at the rhythm of the two waves since beginning of February I see us at the start of a third wave with no upwards potential and at the top of an impending drop.
woldon woldon
@woldon, similar pattern on the BTC day chart. It was yesterday's bull run that put this pattern into play. Let's see how this plays out :-)
Hi, I'm concerned about death crossing SMAs (50 day going crossing below 100). The crossing looks like it's due to happen next week. around 16th.
What do you think about that? I believe we will see the resistance of the 50 day SMA heading down before we even reach 800.
Very nice and honest review! Thumbs up!
@OBKTRADER123, thanks!
so, what are the entry and target points?
+1 Reply
DLavrov bdavletov
@bdavletov, it's possible to buy above 800.00 level. Profit targets are the resistance levels.
+4 Reply
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